If Al Gore’s Chicago Climate Exchange Suffers Total Failure, Does the MSM Make a Sound?

ccx-ripThe CCX was the topic of thousands of MSM articles over the years, but not a single article reported their recent demise. Hmmm.

By Steve Milloy

Global warming-inspired cap and trade has been one of the most stridently debated public policy controversies of the past 15 years. But it is dying a quiet death. In a little reported move, the Chicago Climate Exchange (CCX) announced on Oct. 21 that it will be ending carbon trading — the only purpose for which it was founded — this year.

Although the trading in carbon emissions credits was voluntary, the CCX was intended to be the hub of the mandatory carbon trading established by a cap-and-trade law, like the Waxman-Markey scheme passed by the House in June 2009.

At its founding in November 2000, it was estimated that the size of CCX’s carbon trading market could reach $500 billion. That estimate ballooned over the years to $10 trillion.

Al Capone tried to use Prohibition to muscle in on a piece of all the action in Chicago. The CCX’s backers wanted to use a new prohibition on carbon emissions to muscle in on a piece of, quite literally, all the action in the world.

Read the rest at Pajamas Media.

  • Rob N. Hood

    Celebrate good times…come on! Uh…. c’mon guys….let’s celebrate….. uh, guys? Yohoo… ya awake?

  • Hal Groar

    Looks like we won a battle, not the war. At least this site will be here to catch the lunacy as it happens!

  • paul wenum

    Gore must be in depression. I really feel sorry, don’t you? Oh well, he may have to sell that “little” house he has?

  • Rob N. Hood

    Can’t win them all. Oh wait… he didn’t ever win anything (not lately anyway). And that is indeed very sad. A wonderful President he would have made.

  • Hal Groar

    Gore or Barry??? Tuff call…W!

  • Rob N. Hood

    Uhh, W was Prez. Obama too. So I don’t know how your comment flowed from my statement, but…. be that as it may…

    The Americans I’m usually talking about are not just those shadowy anonymous corporate campaign contributors who flooded this campaign. No less triumphant were those individuals at the apex of the economic pyramid — the superrich who have gotten spectacularly richer over the last four decades while their fellow citizens either treaded water or lost ground. The top 1 percent of American earners took in 23.5 percent of the nation’s pretax income in 2007 — up from less than 9 percent in 1976. During the boom years of 2002 to 2007, that top 1 percent’s pretax income increased an extraordinary 10 percent every year. But the boom proved an exclusive affair: in that same period, the median income for non-elderly American households went down and the poverty rate rose.

    It’s the very top earners, not your garden variety, entrepreneurial multimillionaires, who will be by far the biggest beneficiaries if there’s an extension of the expiring Bush-era tax cuts for income over $200,000 a year (for individuals) and $250,000 (for couples). The resurgent G.O.P. has vowed to fight to the end to award this bonanza, but that may hardly be necessary given the timid opposition of President Obama and the lame-duck Democratic Congress.

  • Brezentski

    The next most important battle will be to neutralize the EPA’s attempts to regulate GHG. Now that CCX is dead (HURRAY!!!) I wonder how the permitting process will work after Jan. 1 when there’s no emission credit market?

  • paul wenum

    As usual they will find a way to keep CCX. To much invested. If not, Gore will be living in a trailer down by the river.

  • Hal Groar

    So you think they will keep it going? Will they run a deficit? How fitting, a left wing experiment in capitalism that runs in the red and is hailed as a success! Paul I hope you are wrong about that. This needs to die quickly.

    • Rob N. Hood

      Actually if you paid any attention to reality or be honest about it, it has been the Dems who have fixed past deficits, and the Repubs who have caused deep deficits. As to this administration it of course remains to be seen. But if Obama doesn’t tackle the deficit it will be contrary to what has occurred in the past. I don’t consider, at this point anyway, Obama to be a true Liberal, so I won’t hold my breath- however I felt the same way about Clinton and he did wonders for the economy and the huge deficit he inherited from Reagan and Bush I.

      Oops- I forgot how much you guys don’t like reality to creep its way in here. Sorry about that.

  • paul wenum

    Never underestimate the opposition especially when it comes to money invested. Look at Madoff, Pettters, et al. What’s Imhoff thinking now at GE? Huge investment with possibly no return? Light bulbs, wind farms etc. If all fails investors will not be happy. Gore’s minions must be a little nervous. Usually that’s when you get the liberal push that all conservatives are against “The truth.” “Inconvenient” as it may be. Typical Alinsky tactics. Unfortunately it will never change. That’s why the american public at large has rejected this fraud.

  • Hal Groar

    I think the EPA angle is worming it’s way through the lame duck now. Very disturbing, gotta stop this!

  • paul wenum

    How? You know, a lame duck doesn’t really care. They have their entitlements and ride off into the sunset and let the chips fall where they may not giving a damn what happens. The sun always shines on that nice yearly guaranteed retirement they get no matter what. EPA to the lame ducks? Just an acronym that they don’t even know what it stands for nor do they care. If they cared, they would stop it. You cannot. Sad, but true.

  • paul wenum

    Dan,

    What is up with a weird website by my name?????

    • Hmm. That’s weird. Almost looks like you typed in “to them” and it read it as a URL.

  • Thanks. Not typed by me. Can you please change?

    • Dan McGrath

      I deleted it in a couple of your posts but the blog is remembering it. Try using a different URL next time you post (any website) – should override it.

  • Thanks Dan.

  • Anne

    I want to call this article “FROM AL CAPONE TO AL’ CARBON(E)”!!!

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